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Seacoast Management Co., which is affiliated with the Highlands and Highland Green senior housing operations, presented its sketch plan to the Planning Board Tuesday night.

River Landing would be a three-floor apartment with between 32 and 36 units, built on the Elm Street site of Amenity Manor, a former nursing home which is currently vacant and would be demolished, according to Planning Director Rich Roedner.

"One of the concerns that has been raised in the past has been the lack of affordable elderly housing, which Highlands has recognized," Roedner said.

Seacoast will need subdivision and site plan approval from the town, and will also need to go before the Historic District Commission, since Amenity Manor adjoins a circa-1900 house that would also be demolished.

The company is seeking tax increment financing for the project, allowing it to keep the units affordable; the Board of Selectmen was to discuss the matter Thursday. Establishment of the TIF would come after a town meeting this fall, Roedner said.